China deal signed by Coffee shop entrepreneurs
A deal was recently signed by New Zealand coffee house entrepreneurs to open 250 Esquires coffee outlets in China.
The development rights for Esquires shops -- a coffee house franchise begun in Canada- are owned by brothers Stewart and Lewis Deeks, for anywhere outside North America and Europe.
A well known newspaper said that the contract which was signed with Yunnan Metropolitan Construction Investment will increase Esquires' operations over the next decade, with the first store already open in Beijing.
Approximately 20 stores will be operating in China by the end of year 2010.
Stewart Deeks told that capacity for growth was marvelous as it has become trendy for young people to go to coffee houses.
China is a new frontier in terms of coffee markets and a larger population than New Zealand is boasted by the capital of the Yunnan province, Kunming.
Deeks said, "That's one of 100 cities that size with no coffee."
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